Comerica Incorporated (NYSE:CMA) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 5,515.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 341,662 shares of the financial services provider's stock after acquiring an additional 335,578 shares during the period. GAMMA Investing LLC owned approximately 0.26% of Comerica worth $20,179,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. PL Capital Advisors LLC grew its stake in Comerica by 6,085.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock worth $109,981,000 after buying an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Comerica during the 4th quarter valued at $82,419,000. Norges Bank purchased a new stake in Comerica during the 4th quarter worth $64,150,000. North Reef Capital Management LP increased its holdings in Comerica by 15.7% in the 4th quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock valued at $250,492,000 after purchasing an additional 550,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Comerica by 548.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider's stock valued at $39,732,000 after purchasing an additional 543,400 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Stock Performance

NYSE CMA traded up $1.13 during trading hours on Friday, reaching $58.62. The company's stock had a trading volume of 956,325 shares, compared to its average volume of 2,184,422. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $55.05 and a 200 day simple moving average of $61.06. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a market cap of $7.70 billion, a PE ratio of 11.68 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. During the same quarter last year, the business posted $1.29 EPS. Equities research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 4.84%. Comerica's dividend payout ratio is presently 53.69%.

Analysts Set New Price Targets

CMA has been the subject of a number of recent research reports. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a research note on Thursday, April 10th. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and lowered their price objective for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on shares of Comerica in a research report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 target price on the stock. The Goldman Sachs Group decreased their target price on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $62.37.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.